All posts tagged "Bank Indonesia"
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1.6KAsia-PacificBank Indonesia Launches New Fast Payments System, BI-Fast
BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.
December 24, 2021 -
427Asia-Pacific
Indonesia Forms National Working Group on Benchmark Reform
The working group will provide information and education to market players and recommendations on alternative benchmark rates.
November 29, 2021 -
624Asia-Pacific
Bank Indonesia Issues Implementation Regulations for BI-FAST
Banks with IDR 6 trillion in core capital, and non-bank institutions with IDR 100 billion in paid-up capital, can be direct participants of BI-FAST.
November 23, 2021 -
355Asia-PacificIndonesia Religious Council Declares Crypto Assets Forbidden
Crypto assets as a currency are considered haram, or banned, for Muslims, according to Indonesia's National Ulema Council.
November 12, 2021 -
500Asia-Pacific
Indonesia, UAE to Cooperate on Payments, Fintech, AML
Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.
November 12, 2021 -
265Asia-Pacific
Bank Indonesia Set to Launch Faster Payment System
'BI-Fast' will enable real-time payments 24/7 for retail customers, and will also be used in cross-border payments in future.
November 11, 2021 -
330Asia-Pacific
China, Indonesia Launches Local Currency Settlement Framework
Bank Indonesia has also recently expanded its local currency settlement frameworks with Japan, Malaysia and Thailand.
September 8, 2021 -
346Asia-Pacific
Bank Indonesia Raises Mandatory MSME Lending Thresholds
The mandatory minimum MSME lending requirements will be increased in phases. Lenders that fail to meet the thresholds will face a maximum penalty of IDR 5 billion.
September 8, 2021 -
615Asia-Pacific
Bank Indonesia Issues Framework for Open Banking
Under the framework, 16 banks and payment service providers will be required to adopt open API systems by June 2022.
August 27, 2021 -
353Asia-Pacific
Thailand, Indonesia Pilot Cross-border QR Payment Link
The full commercial launch will take place in Q1 2022. Indonesia has separately also launched a national open API payment standard.
August 18, 2021
